AN ACT to create and enact a new section to chapter 6-09 of the North Dakota Century Code, relating to a long-term care facility infrastructure loan program; to amend and reenact subsection 3 of section 6-09-47 of the North Dakota Century Code, relating to the medical facility infrastructure loan fund; and to provide an appropriation.

Changed from creating a permanent special fund with a $50 million transfer to a one-time $15 million appropriation from the strategic investment and improvements fund for the 2025-2027 biennium.

Adjusted loan terms to allow up to 50% of project costs (previously 75% or $15 million) with a maximum loan cap of $10 million (previously $15 million) and a 2% interest rate (previously 1.5%).

Extended the maximum repayment period from 30 years to 25 years and shortened the project completion deadline from 30 months to 24 months.

Removed the requirement for an annual audit of the loan fund and the provision for paying audit costs from the fund, as the permanent fund structure was eliminated.